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How to Choose the Best CryptoCurrency Exchange

Before you start trading, you should find the most suitable cryptocurrency exchange for you. There are some criteria that you should have.

Doing this kind of research can help you save thousands of dollars, but that’s why we are here, to help you find the best cryptocurrency exchange just for you.

Our criteria are based on credibility, fees, exchange volume, geography, verification requirements and the coins that are being traded on the exchange. What’s the point to sign up for an exchange, that doesn’t trade your favorite coins?

A pretty simple list, right? But doing this kind of research might take time, that’s why we are here to help you, I’m going to be your time saver.

Why should you do your own research when you can be trading and earning.

Credibility and trustworthiness are important, so we’re not even going to put that on our list, because if I have listed exchange in my site, that already means it has credibility and it is popular & secure among forums & the traders.

Short List for Best Crypto Exchanges

  • Binance – One of the fastest growing exchanges with a great mobile app – the most popular crypto exchange in 2019.
  • CEX – The more you trade the lower your fees get. Also offers to buy Bitcoin with Credit Card.
  • Exmo – Available in multiple languages with great support. Unappreciated, but with great potential.
  • Poloniex – old, secure and trustworthy.
  • Huobi – High volume with a great VIP program.
  • Gate – Relatively speaking new exchange with average trading fees & mobile app.
  • KuCoin – Secure and strong exchange with a mobile app.
  • YoBit – High volumes and also high fees and difficult interface.
  • Livecoin – The more you trade the lower your fees get. Tended for the Russian audience.

I encourage you to read a full post and get into the details about all of the listed exchanges below before making any decision. Also, important tip – if you’re planning to hodl instead of trading, try to find a wallet instead of an exchange, that’s a lot safer option.

bitcoin-crypto-litecoin-ripple-ethereum

 

Criteria – How to pick the most suitable crypto exchange for yourself

Fees: All of the crypto exchanges have fees, that’s how they earn their revenue. If you want to buy, sell, trade on their platform
you will be charged a small amount of fee. The fees could be anywhere from 0.1%-5%. Some of the exchanges also charge a small fee for withdraws and deposits. If you’re a daily trader and do that on a daily bases, it might be smart to pick an exchange with low trading fees.

Volume: High liquidity or in other words – Volume is extremely important, especially if you’re planning to trade on a daily bases.
Imagine if you’ve coins that you want to buy, but on that specific exchange, there’s no one who’s selling those coins? You will make an order/trade, that will never fulfill, so before signing up for an exchange, look at their numbers/volume, that’s a significant factor.

Geography: Not every country allows trading, especially when it comes to crypto. That’s the reason why so many cryptocurrency exchanges, even the best of them have geographical restrictions. Some of the Exchanges only allows United State residents to take part and some of them only allow European, African and Russian residents, etc. to take part and vice-versa.

Verification: All the best and secure exchanges will ask for verification, sooner or later. Some of them might ask you to send an ID, proof of residence, selfie, etc. That’s only for your safety. Trying to keep fraud at the very minimum. Some of them will only ask you that when you want to withdraw, some might ask you that on signup. It’s crucial for those trades that are in a hurry. E.g. Bitcoin is on discount and they need to make that trade, while it’s still hot.

The list is not chronological, do not let it influence you, pick the exchange that suits all of your needs.

Binance

Trading Fees: 0.1%

Verification:  Necessary

Binance is one of the most popular crypto exchanges out there, which was founded by Changpeng Zhao in 2017. He’s also the CEO of Binance.

By default, Binance has 0.1% trading fees. If you possess their coin – BNB you will receive a 25% discount on all trading fees. All the trading fees will be automatically subtracted from your BNB balance. If you run out of BNB coins, you will have to add BNB coins to your balance to receive the 25% discount again. If you’re a high-end trader and your overall trading volume is >100 BTC, Binance will give you another discount on trading fees – 0.09%.

If your monthly overall trading volume will exceed >500BTC you will gain even bigger discount – 0.08%, the highest discount you can reach is VIP 8. Then you will need to trade >150 000 BTC on a monthly basis and you will need to have >15 000 BNB in your holdings. In return, you will have a 0.02% trading fee. That’s enough about their discount program.

They also have a minimum withdraw an amount which is 0.002BTC, which is <$15

As you might have guessed, they also charge you for withdraws. Withdrawal fees are constantly adjusted according to blockchain conditions.

Binance is also very famous for its user-friendly interface. Even though their user interface is beginner friendly, they also have thought about the advanced users. There are two interfaces – for beginners and for advanced traders. You will have all the best analytics tools that are out there to make a data-driven trade.

Binance also offers a trading app on your mobile/tablet device.

Supported & Restricted Countries/States for Binance

24-hours Binance Volume

SIGN UP

 

CEX

Trading Fees: 0- 0.25%

Verification: necessary

CEX.io was founded in 2013, they started off as a cloud mining service, later on, they converted to digital currency exchange and are trusted by millions of users worldwide.

 

CEX.IO has 0-0.25% trading fees, the more you trade the lower your fees get. The fee is calculated based on a volume of transactions in the last 30 days. They also offer the opportunity to buy Bitcoin, Ethereum and other coins with a credit card, which is not a popular option among cryptocurrency exchanges. Buying Bitcoin from CEX would add an additional 5.5% fee which is approximately average among the industry. They also lower your fees if you’re an active trader/buyer, although they don’t have a detailed system on how big your trading volume should be.

Their interface is very straightforward and easy to manage. Would work for beginners and advanced users. As mentioned above they also offer the opportunity to buy multiple coins such as Bitcoin, Ethereum, Ripple, Zcash, etc. with a credit card. They also assist their customers offering them 24/7 customer support.

CEX also offers their users mobile app, for traders that are always on the go.

Supported & Restricted Countries/States for CEX

24-hours CEX Volume

SIGN UP

 

Exmo

exmo-exchange

Trading Fees: 0.2%

Verification: necessary

Exmo was founded in 2013 in the United Kingdom, London. They are based in multiple cities – London, Kyiv, Barcelona, and Moscow. It’s the most popular crypto exchange in eastern Europe with 1.5million users and with more than 315 000 Daily Visitors.

As most of the exchanges, Exmo has the same trading fee – 0.2% they also charge you to withdraw, since they have to reward the miners for confirming the transaction on the blockchain.

I have to be honest, before my research on CryptoCurrency Exchanges I never heard of Exmo and I’m an active trader. I was pleasantly surprised how easy going their interface was. Definitely beginner friendly. I bit too bright, definitely, a night mode would help to resolve that, but in overall it’s good.

It’s a worldwide exchange available all around the world and it also offers their traders multiple languages such as – English, Spanish, French, Polish, German, Russian, Turkish, etc.

They claim to have 24h support service and them quite active on social media such as Twitter, Facebook, and Telegram.

Supported & Restricted Countries/States for Exmo

24-hours Exmo Volume

SIGN UP

Poloniex

poloniex-exchange

 

Trading Fees: 0.10 – 0.25%

Verification: necessary

Poloniex is a cryptocurrency exchange founded in 2014 in the USA by the company Tristan D’Agosta; is based in Wilmington, Delaware. In February 2018, it was bought by the company Circle Internet Financial Ltd.

Poloniex has 0.10-0.25% trading fees, the more you trade the lower your fees get. There are no fees for withdrawals beyond the transaction fee required by the network. One of the unique tools on the Poloniex platform is the chat box which is constantly filled with user help and just about everything. Any user can write almost anything but inappropriate comments are eventually deleted by moderators. It can sometimes be hard to distinguish the good advice from the bad, but the Chatbox is a great tool that will keep you engaged.

When you talk about trade volumes, nothing beats Poloniex. In 2017, Poloniex had the highest volume for ETH because it supports an independent Ethereum market as well as a BTC market.

Poloniex interface is very easy to handle. Would work for beginners and advanced user, either way. They have customer support, in case of need. 

They are also offering a variety of altcoins. If you are looking to trade a variety of altcoins, then you should give Poloniex a shot.

Supported & Restricted Countries/States for Poloniex

24-hours Poloniex Volume

SIGN U SIGN UP

Huobi

huobi-exchange

Trading Fees: 0.2%

Verification: necessary

 Huobi was founded in 2013 and is a cryptocurrency exchange which is based in Singapore but founded in China. Huobi has offices in Hong Kong, Japan, Korea and even in the United States.

Huobi claims to have around $1 billion (US Dollars) in trades, daily.

 

Huobi offers the stock – 0.2% trading fees, but they also have a VIP program for their traders. VIP 1, gets 10% discount, VIP 2 gets 20% discount….VIP 5 gets 50% discount. That’s how far you can get. Unfortunately, there are no more details about how you can actually acquire VIP status. My assumption – the higher your monthly trading volume the higher your discount gets. The industry standard.

I really like their website, smooth, dark and simple. They offer multiple languages on their platform – English, German, Portuguese, Spanish, Mandarin(Chinese), etc. If you’re an international person/trader, Huobi might be just for you!

Their developers have been busy – they also have created apps for iOS and Android. Making your Daily Trading even easier.

International – check, Mobile friendly – check, Beginner friendly – check. If that’s what you’re looking for, Huobi exchange might be just for you.

Supported & Restricted Countries/States for Huobi

24-hours Huobi Volume

SIGN UP

 

Gate.io

gate-io-exchange

Trading Fees: 0.2%

Verification: not necessary

Gate.io as crypto exchange, that was founded in the fall of 2017. The company is registered in USA, Virginia. Available in three languages – English, Japanese, Mandarin(Chinese)

 

The usual story – 0.2% trading fees, Gate.io doesn’t offer any discounts for high volume traders, at least for now.

Gate.io also doesn’t require identity verification. Long story short – verification is not mandatory until you want to withdraw more than $1000 than you will have to verify yourself.

The website has two versions – day mode and night mode. I definitely suggest using night mode. Less painful for the eyes. The user interface isn’t very friendly, I would say it’s a bit chaotic. Buttons everywhere, hard to keep your focus.

They are mobile friendly, meaning – they offer their clients their app. For both Android and Apple users.

SIGN UP

KuCoin

kucoin-exchange

Trading Fees: 0.1%

Verification: necessary

KuCoin is a crypto exchange platform that is based in Hong-Kong. KuCoin offers their traders more than 300 trading pairs. They also have theirs on Token called – KuCoin Shares (KCS), if you’re a shareholder/hodler you will receive dividends on a daily basis. Also, coins holders receive trading discounts based on how much shares they own. If you posses KCS tokens you might receive exclusive promotions, offers, and rewards from the exchange.

KuCoin trading fees are very similar to the previously mentioned exchange – Binance. They have their own coin and if you possess it, you will receive a trading fee discount. They have listed on their website, that their trading fee is 0.1% and owning 30 000 KCS might give you 30% additional discount. 10 000 KCS gets you a 10% discount. They also have a discount calculator on their website.

To get that 30% discount won’t be cheap. But the good part is KCS is a security token, meaning, you will receive daily dividends from the exchange.

The website, in general, is distracting, full of unnecessary banners, colors that distract. Hard to keep focus.

In overall it’s a trustworthy crypto exchange, with high enough volume and app for Android & iOS. The interface could use some work, but if you’re there for trading, it’s good enough.


SIGN UP

 

YoBit

yobit-exchanges

Trading Fees: 0.2%

Verification: necessary

YoBit was founded in 2015 and is based in Russia. YoBit exchange has a wide range of cryptocurrencies. Available worldwide. YoBit offers three languages – EN,RU,CN.

 

Standard trading fee for YoBit, they also have withdrawn fee, which goes anywhere from 2%-6%, depending on your withdraw method.

Definitely not beginner friendly. The interface is chaotic. Full with random colors, full of random buttons. Can’t keep attention. If you’re planning YoBit as your first exchange, I would suggest otherwise.

If you’re looking to trade specific coins and only YoBit Offers them, it’s good enough, or maybe you just don’t want to put all eggs into one basket/exchange, then it’s good too.

Maybe that’s how Russian exchanges work – Business first, users second.

SIGN UP

 

Livecoin

live-coin-net-exchange

Trading Fees: 0.18%

Verification: necessary

Livecoin is a Bitcoin & Cryptocurrency exchange platform that was founded in London, 2013. The company is based in the U.S, Louisiana. Their target audience seems to be Russian, due to the fact that a lot of content on their site is in Russian.

The withdraw fees are anywhere from 0%-10% depending on the withdraw method.

$0-$100 000 trading volume gets you a 0.18% trading fee. If your volume goes beyond that, you’re in luck. Livecoin gives you an additional discount on your trading fees. If you trade 2 000 000 on a monthly basis, you can get 0.02% on trading fees.

The exchange offers 9 languages. The exchange has more than two hundred currency pairs including market leaders such as Bitcoin, Ethereum, Ripple, etc. and a lot of underdogs that you won’t find in popular exchanges.

The interface is simply a bit old-schooled if you ask me, but it gets the job done.

In overview good platform for daily trades due to the low fees & trades who like to risk and trade less known coins.

SIGN UP

 

That’s my list of best exchanges or top 9 best exchanges, additional platforms & exchanges might be added with time. If you believe there’s another exchange that qualifies to be on my site and is secure and innovative and supportive to their customers, leaves a comment below and we will look into it. If an exchange will receive a lot of votes I’ll definitely consider adding it to my list, it’s not final, because as you might have noticed, the crypto industry is changing day by day.

How to Deposit Bitcoin/Ethereum to Cryptocurrency Exchange?

So you have found your favorite Cryptocurrency Exchange, but don’t know where to start? At the first time, it might seem a bit complicated, because most of these exchanges don’t offer the opportunity to buy Bitcoin. That’s completely normal, exchanges are meant for trading, not for buying coins. So the first step is you have to buy Bitcoin first. You can do that at Coinbase.

Afterward, when you have signed up at Coinbase the best deal and bought bitcoin, Ethereum or any other coins, it’s time to transfer them to your favorite exchange and begin the trading. May the odds be with you.

Now It’s Your Turn to tell me: Which Exchange are you going to pick and why? Let me hear your thoughts in the comments below!

Remember: As soon as you sign up for an exchange using your email, do make sure to enable two-factor authentication!

Notice: I’m going to leave you a couple of shameless affiliate links in the post. Meaning I will earn a small commission if you signup at some of the exchanges e.g – Coinbase, Binance. I’m not ashamed to admit that, they are great exchanges, great services that I’ve used myself. Cheers, thanks, much appreciated.

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